Quick take:
- Nifty Gateway has picked over 50 curators for its beta Publishers platform.
- Curators would be able to set up NFT storefronts to curate and sell art by creators
- Nifty Gateway plans to eventually open the Publishers platform to all.
Gemini-owned NFT marketplace, Nifty Gateway, today introduced its Publishers platform in beta. The new platform will enable people to curate NFT drops and sell them through their own Shopify-like storefronts.
For now, Nifty Gateway is working with over 50 beta Publishers to curate art by creators, who will be able to use the same tools that creators use to sell NFTs on the marketplace, such as payment options, unique drop types, rules for buyers, and more.
Nifty Gateway plans to eventually open the Publishers platform to introduce a new way for people to make a living from Web3 by becoming curators selling NFTs. It will also expand beyond art curators to include people who want to release their own NFTs, such as artists publishing their own works, brands releasing NFTs for loyalty or utility, and more.
The Publishers platform is the next step after its Curated Drops, which featured NFT collections curated by in-house curators. The company said that its in-house curators have worked with more than 400 artists and paid them over $500 million since 2018.
“There’s a limit to the number of artists we can curate. You really have to have a strategy to succeed as an artist,” Nifty Gateway’s co-founder Duncan Cock Foster told Blockworks. “The best way to help artists is to have more curators.”
Following the announcement of Publishers, Curated Drops will now exist as a publisher on the platform, along with the other 50 beta Publishers Nifty Gateway has handpicked. Through its research, Nifty Gateway found that curated drops ring in up to 90% new buyers and up to 70% of those buyers go on to collect additional NFTs.
Twitter user “@CryptoCaptain_” asked if flooding the market with more supply of NFTs is going to help or hurt the bear market, attributing the decreased value across the board to oversaturation.
“Going into this product, that was something we kept at the top of mind. We researched previous drops that had come from external curators, and what we found is that those drops actually brought in new audiences on average,” Cock Foster responded.
The new platform comes as NFT trading volumes have hit a new low. According to Fortune, marketplace leader OpenSea recorded $9.34 million worth of transactions last Sunday, a 99% drop from $2.7 billion at its peak in May.
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